EV Engineering News

Battery storage companies raised $1.4 billion in first half of 2019

Battery storage companies raised $1.4 billion in 17 deals during the first half of 2019, according to a report from Mercom Capital Group. That figure is up 139 percent from H1 2018, during which companies raised $543 million in 30 deals.

There were six battery storage mergers and acquisitions in H1 2019, compared to eight in H1 2018.

Some 41 venture capital investors participated in battery storage funding in the first half. Some of the largest VC funding deals: Northvolt raised $1 billion; Sila Nanotechnologies raised $170 million; Romeo Power secured $88.6 million; Zenobe Energy generated $32.3 million; and LivGuard Energy Technologies scored around $32 million.

Source: Mercom via Green Car Congress

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